Federal regulators have approved the first alternative version of the second-best selling drug in the world, Humira, the blockbuster injection used to treat rheumatoid arthritis and other inflammatory diseases.
Physicians are increasingly selling their practices to larger groups to gain access to the capital and expertise needed to survive under value-based reimbursement.
AbbVie's Humira, the second-biggest selling drug in the world, could get some cheaper competition in the U.S., after a federal panel endorsed an alternative version of the pricey medication used to treat some inflammatory diseases.
Amgen is bracing for yet another drug to compete with its biologic medications. An FDA advisory panel is scheduled to consider approval Wednesday of a biosimilar created by Sandoz, Novartis' generic arm. The panel will advise the FDA, which makes the final call.
Just three years ago, billionaire hedge fund manager Larry Robbins fought tooth and nail for Community Health Systems' $7.6 billion takeover of Health Management Associates. Now he has lost faith in that massive hospital deal—and in the healthcare sector more broadly.
AbbVie on Thursday reported a boost in first-quarter profit on higher sales of the drug Humira and said it will buy cancer drug developer StemCentrx for more than $5.8 billion.
Rheumatoid arthritis drug prices have skyrocketed over the past three years, despite little to no change in composition, experts and insurers say.
AbbVie CEO and Chairman Richard Gonzalez took a slight dip in pay in 2015, but he still took home $20.8 million.
Sen. Ron Wyden says he has "a number of concerns" about how panelists were selected and screened for an advisory panel on pain issues that includes government experts, outside academics and patient advocates.
Cost-cutting also helped AbbVie in the quarter. The North Chicago, Ill., company's selling, general and administrative expenses dropped 48% to $1.74 billion.
Patients with hepatitis C have yet another advanced treatment option, as the Food and Drug Administration on Thursday approved a new once-a-day pill developed by drugmaker Merck.
AbbVie's third-quarter earnings more than doubled in a performance that topped expectations, and the drugmaker's forecast for 2016 and beyond helped send its shares soaring on Friday.